Not got time to write reviews at the moment but will try to get back to anyone who rates mine. To s...
Not got time to write reviews at the moment but will try to get back to anyone who rates mine. To save money while shopping on the internet try this site.
<a href=http://www.TopCashBack.co .uk/bazh/ref/index.htm>Joi n Top Cashback</a>
Member since:04.06.2007
Reviews:24
Members who trust:13
Maybe I am just old fashioned but I have never really liked the idea of buying on credit, if I want something I will always wait until I can afford it, but when I started using the internet I knew I would need the added security that comes with a credit card and Egg Money really appealed to me for the following reasons.
1) Pre-loading. This simply means that you do not actually have to use it as a credit card but like a normal bank account. You can set up a regular monthly payment from your current account and top up any time you like. As it is an internet only account you can keep an eye on your balance and make sure you never go into the red.
2) 1% cash-back on all purchases (more for some selected retailers such as 5% at Dixons and CDWow. - check website for latest offers)
3) 4% interest received on positive balances. Although it should be noted that this rate has not changed for some time despite interest rate rises elsewhere.
The website is easy enough to use though sometimes a little slow and remember that it is an internet only account so no paper statements, just an email alert when your statement is ready. If you have any problems or reasons to contact them this can be done by email or phone and they are usually helpful.
Of course when assessing any financial product it is important to ask yourself whether it is right for you. If you would use it as a normal credit card and pay off your bill every month then the pre-loading and interest received will be of no relevance. Also the cash-back element is only worthwhile if you pay off your balance in full every month as any money received would be cancelled out by interest charged (an typical rate of 7.9% APR). In fact if you purely want a cash-back card you can get up to 3% elsewhere. Check a good comparison website such as moneysavingexpert (see my earlier review) to find the best product for you depending on how you spend.
I would say that unless all 3 points appeal to you then this card probably is not for you but for the moment it is just right for me.
How helpful would this review be to a person making a buying decision? Rating guidelines
A very sensible policy you have of waiting till you can afford something. If more people behaved this way, they would not end up in needless debt. I know people who spend a fortune on designer clothes and shoes and then moan about how much interest they're paying each month on their credit cards. I like to pay mine in full each month to avoid paying ANY interest! Mil x (p.s. I like Borg's idea, how about a credit card called "table" or "chair"? LOL)
Miskah 14.07.2007 15:06
an interesting review but i would have liked to know more. ♥Beth.
Advantages: 1% cashback, contacted me to discuss the application, online statements (good for privacy) Disadvantages: customer service non-existant, online email service does not work most of the time
Advantages: Cashback, simple to use, interest on credit balances Disadvantages: Slow money transfer from external accouts, can work out expensive for some
Advantages: 1% cashback, contacted me to discuss the application, online statements (good for privacy) Disadvantages: customer service non-existant, online email service does not work most of the time
very helpful by (30%):
helpful by (70%):
